Making a case for flexible working hours

by Dr. Nirmal de Silva

With the growth of the Sri Lankan economy, companies across all industries are hiring a greater number of millennials as they continue to expand operations.

Millennials are generally known to be more tech-savvy and open to change in the office environment. In an increasingly competitive and fast-paced business environment, millennials are well aware of the importance of the role played by flexible working arrangements to attain a better work-life balance in jobs, to avoid burnout and have long, successful careers.

However, the latest research has shown that it's not just the millennials asking for more flexible working hours to help them juggle work and personal needs. Across all age groups, more employees are calling for flexible working arrangements from employers. The emphasis they place on flexible working is so strong that a global survey by Unify in 2014 found that 43% of workers would choose the option of flexible working over a pay rise.

Flexible working brings numerous benefits to the employees. They get the chance to avoid lengthy and often stressful commutes, giving them more time to spend with their loved ones or doing what they love. This means that the employee is in a better state of mind when they are at work. This translates into benefits to the businesses as statistics show that workers are more efficient, productive, motivated and empowered when they work flexibly, while retention rates improve and sick days decrease.

From a more practical standpoint, reducing unused or underused office space can help businesses avoid long and expensive lease and free up capital for investment in growth. Specifically, the latest research by Regus, the global workplace provider, shows that 81% of respondents think that money saved on expensive leases and under-occupied office space should be invested in growth initiatives and in creating more jobs.

As a result, increasing flexible working arrangements could even contribute to help control or even reduce youth unemployment in Sri Lanka by lowering the cost of desk space.

While freeing up business' capital to invest in growth and employment is a key objective in any economy that wants to increase GDP, governments have the opportunity to contribute to help flexible working becoming the norm.

The Regus research also found that business people believe that governments should promote flexible working by offering businesses various tax and non-tax incentives and that the availability of flexible working options should be communicated more effectively.

Governments should promote flexible working as it is closely linked to economic growth and job creation. The research further showed that one under-represented group of workers is women with only 57% in employment across the OECD and yet one report suggests that raising female employment to the same level as that of men male levels could increase GDP by as much as 34% in some countries.

The main obstacle is the struggle many women workers face in trying to balance their family life with their professional lives. As a result, far too many skilled and professional women leave the workforce after starting a family. However, flexible working is seen by a large majority (83%) as a solution to help them remain in work longer, thereby contributing positively to the business and the country's economy.

The benefits of flexible working go beyond millennials and working mothers. Older workers or people with care responsibilities can also benefit from the opportunity to work close to home. With the rise of retirement ages, the proportion of those needing to remain in employment is also on the increase.

However, older workers often have other responsibilities such as caring for loved ones, or have health issues, which means that they cannot afford lengthy commutes away from home.

In such scenarios, flexible working is a welcome change that helps them extend their careers while meeting responsibilities. In fact, 88% of respondents confirmed that flexible working is vital to keeping careers so they can better juggle the demands of family and professional life and 84% say it can help workers stay in employment after retirement.

While flexible working clearly benefits a number of parties, businesses have to keep in mind that they need to provide flexible workers with a professional and fully-functional environment to work, thrive, concentrate and reach maximum productivity.

A small investment in offering workers access to fully-equipped, professional work-spaces close to their home could help firms achieve this easily.

The writer, a business professional with over 15 years’ senior management experience in the Asia Pacific region, is the Country Manager for Regus Sri Lanka.